Given the impossibility of organizing face-to-face meetings with different agents in the real estate sector, icrowdhouse It is promoting a series of virtual sessions to explain to investors and originators the participatory financing tool with which they can carry out projects that require an investment, something even more necessary in these times of economic uncertainty.
Under the title "Alternative financing for real estate developments" the General Director of PropTech, Pedro Arroyo, explained to Granada real estate developers and investors this financing alternative in Equity.
In the session with local representatives from Granada, he highlighted the difficulties promoters have in accessing bank financing with pre-sale requirements of at least 50%. "This is the situation that existed in the precovid, we do not know how the situation will be once the coronavirus crisis is over," argued Pedro Arroyo.
In a situation as delicate as this, icrowdhouse “it is an alternative solution that was already designed, but that now makes even more sense ”, assured the Director General. Alternative financing through the icrowd platformhouse it allows the developer to depend on a smaller percentage of bank financing.
Pedro Arroyo also had the opportunity this past Wednesday to present the icrowdhouse solution to the Confederation of Construction Entrepreneurs of Aragon in a virtual session in which business federations and associations from Zaragoza, Huesca and Teruel participated. Later, Proptech will organize a face-to-face meeting with them.
In Cádiz in the month of May
Before, on May 21, Pedro Arroyo made the platform known to local representatives of the Cádiz real estate sector. It was a meeting organized in collaboration with the Provincial Federation of Construction Business Associations of Cádiz.
The CEO of icrowdhouse He explained to the attendees the evolution of the company and the treasured experience in recent years. The starting point begins in 2015 with the approval of the Law for the Promotion of Business Financing, which regulates participatory financing platforms with the aim of protecting investors. As Pedro Arroyo, the founder and partner of icrowd, commentedhouseYago Poveda "saw the need to create a platform to democratize real estate investments".
icrowdhouse offers a Saas based on the principles learned from developers and investors. The CROWD works as a white label with which each promoter can attract investors at a lower cost, around 0,8% and 2,6%. The entire process is digital and this tool allows each promoter to define his own strategy.
The model launched by icrowdhouse pivots on three axes: the capabilities of icrowdhouse, the needs of developers and investors. The company detected as its strengths "the accreditation of the CNMV, a very powerful technological capacity and the experience in the world of PropTech, being us one of the most knowledgeable," said Pedro Arroyo.
Regarding originators, there are three main needs for promoters to which icrowdhouse responds: confidence in the alternative financing formula but, at the same time, that it is recurrent and flexible and that the cost of raising it is not high. And, at the same time, that it is something simple and, in addition, that it is integrated into the chain of business model of promoters.
The third point of the strategy focuses on investors. They demand absolute protection and anonymity; don't cost them money money; trust in the promoter, that they were always of quality; that the projects be validated by a third source beyond the promoter and icrowdhouse; full transparency to eliminate speculation; technology to make things easy; and that the platform was accessible with any device and from anywhere in the world and at any time of the day. In addition, the interest of collective investors, financial intermediaries and advisory firms who wanted access was appreciated.